Fannie Mae vs Freddie Mac mobile home park loans
Both agencies lend up to 80% at 1.25x on parks. Size floors, park-owned home caps and sponsor rules are where they split. Side by side, with a worked example.
Mobile home park financing
Count the pads. Then find the loan that fits them.
A park loan is sized on lot rent, occupancy and how many homes you own. Enter your pads, occupancy and lot rent. You get a value, and the name of the rule that stops each program that says no.
The gates, by program
Which lenders will look at your park
| Program | Pads | Occupancy | Park-owned homes | Max LTV / min coverage |
|---|---|---|---|---|
| Fannie Mae MHC | 50+ | 85% physical | Up to 35%, plan over 25% | 80% / 1.25x |
| Freddie Mac MHC | 5+ | 85% for 3 months | Up to 25% | 75 to 80% / 1.25x |
| HUD 223(f) MHC | Resident-owned, nonprofit, public, CDFI and Tribal borrowers only | 90% / 1.11x | ||
| Bank, credit union, CMBS | Each lender sets its own terms | |||
| SBA 7(a) and 504 | Not eligible for mobile home parks (SOP 50 10 8.1) | |||
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Lot-rent valuation
Pads, occupancy, lot rent, park-owned homes and expenses in; NOI, value across your cap rate range and the flags a lender will raise out. A site plan fills in as you type occupancy.
Value my park 02Loan sizer
Runs the park through Fannie Mae, Freddie Mac, HUD and your own lender's terms, sizes each loan on value and coverage, and names the rule that stops it.
Size a loanWhy lot rent is the number that matters
A mobile home park rents land. The residents own most of the homes, pay rent for the pad under them, and look after the homes themselves. That’s why lenders start with lot rent. Every home the park owns adds rent, but it also adds a roof, a furnace and a vacancy risk, so both agencies cap how many you can own.
The valuation worksheet keeps lot rent and home rent on separate lines for that reason. The loan sizer then runs the park through each program’s gates: pads, occupancy, park-owned homes, quality, and who you are as a borrower.
What this site won’t do
It doesn’t list parks for sale, and it doesn’t keep a directory of parks. The only national public list of parks, the DHS HIFLD Mobile Home Parks layer, was last updated by the government in October 2022 and is no longer distributed. A directory built on it would show you closed parks and miss new ones. The sources page explains what we checked.
Guides
How to buy a mobile home park
Work out which loan a park qualifies for before you offer on it. The seven things a lender checks, in the order we'd check them.
HUD 223(f) for manufactured home communities
HUD's MHC Program lends 90% at 1.11x on parks, but only to resident-owned, nonprofit, public, CDFI and Tribal buyers. Who qualifies, terms, an example.
How lenders treat park-owned homes
Lenders count rent from homes the park owns, up to a cap: 25% of homes at Freddie Mac, 35% at Fannie Mae. How the share is measured and how to fix it.
Can you get an SBA loan for a mobile home park?
SBA 7(a) and 504 loans can't finance a mobile home park. The SOP says so by name. What the rule says, why RV parks differ, and what to use instead.
Seller financing a mobile home park
A seller note can close the gap on a park purchase, but the first lender has to allow it and the park must cover both payments. A worked example, and the rules.
Questions people ask
What is the best loan for a mobile home park?
For a stabilized park of 50 or more sites, Fannie Mae and Freddie Mac MHC loans offer up to 80% loan-to-value at 1.25x coverage, non-recourse. Parks under 50 sites can still use Freddie Mac (5-pad minimum). A park under 5 pads, under 85% occupancy, or with more than 35% park-owned homes falls outside both agency programs, which leaves a bank, a credit union or a seller note.
Can I use an SBA loan to buy a mobile home park?
No. SBA's SOP 50 10 8.1 (effective October 1, 2026) says apartment buildings and mobile home parks are not eligible for 7(a) or 504. RV parks and campgrounds are treated differently.
How much occupancy do lenders want on a mobile home park?
About 85%. Freddie Mac asks for 85% of home sites occupied for the three months before closing. Fannie Mae applies its Guide-wide minimum of 85% physical and 70% economic occupancy.
Do park-owned homes count toward the loan?
Their rent counts, up to a cap. Freddie Mac won't lend if homes owned by the borrower, affiliates and investors are more than 25% of the homes. Fannie Mae allows up to 35% tenant-occupied homes with a plan to reduce them once they pass 25%.
Buying or refinancing a park?
Send the pads, occupancy, lot rent and the loan you want. A person at the Janover Capital desk reads it and replies.